Auto Insurance Inquiry
I’m currently living in California. My father, who is 85 years old, hasn’t driven in the last three years. He holds the insurance policies for both my parents’ car and my own. Can I remove him from both policies? My parents and I share the same apartment. Will this result in lower insurance rates? Also, do I need to obtain new policies since he is currently the policyholder for both? Thank you!
It sounds like you’re looking to adjust your auto insurance policy due to your dad not driving anymore. Here are some steps to consider:
Remove Your Dad from the Policy: Yes, you can generally remove your dad from both policies, especially since he hasn’t been driving for three years. It’s a good idea to contact your insurance company and inform them of the change in drivers. They will guide you on the necessary steps to officially remove him from the policy.
Potential Insurance Rate Impact: Removing an older, non-driving policyholder could potentially lower your premiums, especially if age is affecting your rates. However, the exact impact can vary based on your insurer’s underwriting guidelines and the overall risk assessment.
New Policy: You may not necessarily need to get a completely new policy. You can typically update the existing policy to reflect the change in drivers. However, check with your insurance provider as policies differ among companies.
Notify Your Insurer: It’s always best to communicate directly with your insurance agent for accurate advice tailored to your specific situation. They can provide you with information about potential savings and the process to adjust the policies.
Take this opportunity to review your coverage and ensure you’re getting the best rate. It might also be a good idea to shop around for quotes from different providers after making these adjustments.